State Bank (Moore, MT)

Episode Information

Episode UID
93012071488
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
9301207 routing
Routing Number
93-0120
Start Date
December 10, 1923
Location
Moore, Montana (46.976, -109.697)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
46698fe3dff1c1c9

Response Measures

None

Description

Closure described as a precautionary/voluntary suspension tied to spreading rumors; later reopened under same charter.

Events (2)
1. December 10, 1923 Suspension
Cause
Rumor Or Misinformation
Cause Details
Closed as a precaution due to rumors and uneasiness from recent closings of other small Fergus County banks; heavy withdrawals elsewhere foretold an impending run
Newspaper Excerpt
At Moore, 18 miles from Lewistown, the State bank of Moore and the First National bank of Moore, both were closed Monday as a precautionary measure
Source
newspapers
2. February 13, 1924 Reopening
Newspaper Excerpt
The State Bank of Moore will open late this week or early next week ... The State Bank of Moore closed December 10, 1923 ... the suspension of business and closing was voluntary.
Source
newspapers

Newspaper Articles (7)
1. December 11, 1923 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, December 11, 1923

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Article Text

Rumors Spread The rumors continued to spread all day Sunday and by evening of that day it was foreseen that a very heavy run was inevitable. For the protection of the depositors as well as the bank itself, the directors decided to not open the bank Monday. A notice reading "Bank closed by order of directors" was posted on the door and greeted the crowds that gathered at 9 o'clock Monday morning. The closing was taken very quietly. The deposits of the bank, all told, at the last published statement, were approximately $3,000,000. Empire Weathers Run At the Empire & State bank, everything was in readiness to meet an eventuality that might arise Monday morning. At one window a line of persons waited to get their money, but at another window there was another line of depositors. The net result at the end of the day's business at the Empire was that the deposits were within about $15,000 of the total withdrawals. When it was seen that the bank was able to meet all demands, withdrawals slackened very materially and it is likely that the run is over. In any event, the Empire is entirely safe. At Moore, 18 miles from Lewistown, the State bank of Moore and the First National bank of Moore, both were closed Monday as a precautionary measure and a small bank at Roy, in the eastern part of the county, also was closed. Has $300,000 Capital The First National has a paid in capital of $300,000 and a surplus of $100,000, its total resources being set out as around $5,000,000. The officers are: W. L. Johnson, president; O. W. Belden, chairman of the board; P. J. Osweiler, vice president; T. C. Sherman, vice president; J. L. Steinbarger, cashier; J. R. Miller, assistant cashier. The board is composed of Johnson, Belden, Sherman, Osweiler, T. T. Taylor, H. C. Brown, J. B. Elliott, David Hilger, C. H. Kelley, J. E. Lane, C. R. McClave, E. C. Sweitzer, Donald Waite, A. R. Warr, G. J. Weideman and J. E. Woodard.

2. December 13, 1923 Thomas County Clipper Seneca, NE
Article from Thomas County Clipper, December 13, 1923

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Article Text

Run on Banks in Central Montana The First National Bank of Fergus county in Lewistown, the largest banking concern in central Montana, suspended business last Monday morning on action taken by the board of directors as a means of protecting all of the depositors against an impending run. Public opinion is largely to the effect that the bank was in good condition to meet ordinary conditions. Plans were immediately begun for re-opening the bank on a basis that will protect the depositors and the directors have assurance of ample new capital from local and outside sources. The bank had a paid up capital stock of $300,000 and a surplus of $100,000, its total resources being set out at around $5,000,000, and deposits around $3,000,000. Suspension of business by the First National Bank is directly traceable to rumors that grew out of the recent closing of several smaller banks in Fergus county. These rumors resulted last week in a feeling of uneasiness that manifested itself Saturday in a considerable number of withdrawals. The rumors continued to spread all day Sunday and by evening of that day it was foreseen that a very heavy run was inevitable. For the protection of the depositors as well as the bank itself, the directors decided to not open the bank Monday. A notice reading "Bank closed by order of directors" was posted on the door and greeted the crowds that gathered at nine o'clock Monday morning. The closing was taken very quietly. At the Empire State Bank everything was in readiness to meet an eventuality that might arise Monday morning. At one window a line of persons waited to get their money, but at another window there was another line of depositors. The net result at the end of the day's business at the Empire was that the deposits were within about $15,000 of the total withdrawals. When it was seen that the bank was able to meet all demands, withdrawals slackened very materially and it is likely that the run is over. In any event, the Empire is entirely safe. At Moore, eighteen miles from Lewistown, the State Bank of Moore and the First National Bank of Moore, both were closed Monday morning as a precautionary measure, and a bank at Roy, in the eastern part of the county, also was closed. Fergus county is traversed by the Milwaukee & St. Paul and Great Northern railroads.

3. December 13, 1923 Roundup Record-Tribune Roundup, MT
Article from Roundup Record-Tribune, December 13, 1923

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Article Text

At the Empire & State bank, everything was in readiness to meet any eventuality that might arise Monday morning. At one window a line of persons waited to get their money, but at another window there was another line of depositors. The net result at the end of the day's business at the Empire was that the deposits were within about $15,000 of the total withdrawals. When it was seen that the bank was able to meet all demands, withdrawals slackened very materially. At Moore, 18 miles from Lewistown, the State bank of Moore and the First National bank of Moore, both were closed Monday as a precautionary measure and a small bank at Roy, in the eastern part of the county, also was closed. The First National has a paid in capital of $300,000 and a surplus of $100,000, its total resources being set out as around $5,000,000. The officers are: W. L. Johnson, president; O. W. Belden, chairman of the board; P. J. Osweiler, vice president; T. C. Sherman, vice president; J. L. Steinbarger, cashier; J. R. Miller, assistant cashier. The board is composed of Johnson, Belden, Sherman, Osweiler, T. T. Taylor, H. C. Brown, J. B. Elliott, David Hilger, C. H. Kelley, J. E. Lane, C. R. McClave, E. C. Sweitzer, Donald Waite, A. R. Warr, G. J. Weidman and J. E. Woodard. In a statement issued Monday night the board announced: "The directors of the bank have assurance of ample new capital from local and outside sources of such financial strength that they have every reason to feel that an early resumption of business will occur."

4. December 13, 1923 The Mountaineer Big Sandy, MT
Article from The Mountaineer, December 13, 1923

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Article Text

LEWISTOWN BANK CLOSED MONDAY Lewistown, Dec. 10.—The First National bank of Fergus county, the largest banking concern in central Montana, suspended business Monday morning on action taken by the board of directors as a means of protecting all of the depositors against an impending run. Plans were immediately begun for reopening the bank on a basis that will protect the depositors and the directors were busy with this work throughout the day. Public opinion here is largely to the effect that the bank was in excellent shape to meet ordinary conditions. It is confidently expected that the concern will be able to resume its former position among banking institutions in this part of the state and that the depositors will sustain no loss whatever. Suspension of business by the First National is directly traceable to rumors that grew out of the recent closing of several small country banks in Fergus county. These rumors resulted last week in a feeling of uneasiness that manifested itself Saturday in a considerable number of withdrawals. The rumors continued to spread all day Sunday and by evening of that day it was foreseen that a very heavy run was inevitable. For the protection of the depositors as well as the bank itself, the directors decided to not open the bank Monday. The closing was taken very quietly. The deposits of the bank, all told, at the last published statement were approximately $3,000,000. At the Empire & State bank everything was in readiness to meet an eventuality that might arise Monday morning. At one window a line of persons waited to get their money, but at another window there was another line of depositors. The net result at the end of the day's business at the Empire was that the deposits were within about $15,000 of the total withdrawals. When it was seen that the bank was able to meet all demands, withdrawals slackened very materially and it likely that the run is over. In any event the Empire is entirely safe. At Moore, 18 miles from Lewistown, the State bank of Moore and the First National bank of Moore, both were closed Monday as a precautionary measure and a small bank at Roy, also was closed.

5. December 14, 1923 The Producers News Plentywood, MT
Article from The Producers News, December 14, 1923

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Article Text

WIDESPREAD MISERY RESULT OF CRASH Special to Producers News. DON'T PITY THE Lewistown, Dec. 10.-The First NaPOOR FARMER! tional Bank of Fergus County, the largest banking concern in central and eastern Montana went to the wall These Raised Horses Instead of Pole last Menday morning as the result of Cats, and Sold Them for $1.07 Per a run last Saturday by a huge crowd Head. of frightened depositors, who made a mad rush to get their money upon the Forsyth.-Ranchers in the vicinity failure of several small town State of Rosebud who have been shipping banks in Fergus county during the range horses to eastern markets reweek, which banks are the property of port receiving very lew prices for the First National Bank of Lewis their stock. One man who shipped a county. carload of 29 horses to a Nebraska $300,000 CAPITAL market received a check for $31.03 The First National Bank of Fergus for the carload of $1.07 per head County has a capital stock of $300,net. Other shippers of smaller un000, and a surplus of $100,000: it has broken horses did not get enough for deposits in the sum of $5,000,000 and them to pay the freight. The only was the principal bank of deposit in local buyers for this class of horses Central Montana and was a discount are the hog feeders, who are paying bank for several smaller banks in around $2.00 per head. Fergus county, all of which have reThe demand for small horses is a cently failed. thing of the past and there are thousFIRST COPPER BANK TO FAIL ands of these worthless animals on The Lewistown Bank is the first the ranges in Rosebud county. Stockbank known in the state as a "Copmen and farmers are putting forth bank to fail, and is the largest every effort to dispose of them as banking institution in the state to they are consuming the feed that succumb in the impending financial could be utilized in the production of and economic wave that is engulfing more beef. wool and mutton. the nation. DEPOSITORS DISAPPOINTED The first heavy withdrawals from the bank occurred Saturday and the NELS MOE KNOCKS news of the condition of the bank spread after the bank closed. Saturday and all day Sunday and Monday OUT STEVE O'BRIEN morning a long line of depositors waited for the opening of the bank Coming Young Pug Floors Hug to withdraw their deposits, when one Irishman in Second Round-Figh of the employes appeared in the door Sensational While it Lasted. and posted from the inside the notice to the effect that the bank had been closed by orders of the Board of DiHoldfast Sask., Dec. 23.-Before à rectors. The crowd was excited, packed house at Holdfast, Sask., O some were crying, while others were Saturday night, December 8th, Nel cursing. Many lost the saving of a Moe knocked out Steve O'Brien in life time, and it is understood that the second round of a ten round sched the bank will never be able to pay ule. O'Brien took the county of eigh out but a small fraction of the dein the first round. The match wa posits, the bank having taken huge fast and furious while it lasted losses as a result of deflation and the O'Brien stands six feet six and weigh agricultural wreck of the past couple over 200 pounds and has a reach o of years the result of the deflation 82 inches while Moe stands 5 feet 1 policy of the Federal Reserve Bank. inches and weighs 174 pounds with BELDEN RUINED reach of 78 1/2 inches. It was a cas 0. W. Belden, prominent in bankof speed and science against size ing and financial circles of the state, weight and strength. reported as ruined, as is also, W. L. Johnson, president of the bank, who T. U. MEETING has been considered one of the leading bankers of the state for many years. The W. C. T. U. met in its regula Among the other officers of the monthly meeting at the 8th grad bank are Rep. T. T. Taylor of Ferbuilding Tusday evening at 8 o'clocl county, who did yoeman service Mrs. E. T. Mitchell, the Evangelisti the legislature last winter in beSuperintendent led the meeting. Ro of the banking fraternity. call was responded to by giving som OTHER BANKS FAIL current event concerning Prohibition On Tuesday, following the failure Miss Isabel Malcolm read an inter the Lewiston bank, the State Bank esting paper on "The Significance ( of Moore and the First National Bank the "C" in W. C. T. U. and Mrs. C. C of Moore both were closed as a result Christianson gave a well prepare of the wreck and State Bank of Ray in paper on "Prayer and Faith-the Ke eastern part of the county also closed. note of Success." Come to the All of these banks were closely allied o meetings every second Tuesday with the First National of Lewiston. each month that the forces of goo Practically all of the small town may be as weil organized and a.tiv as the forces of evil. (Continued on Page Four)

6. December 20, 1923 Thomas County Clipper Seneca, NE
Article from Thomas County Clipper, December 20, 1923

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Article Text

Run on Banks in Central Montana The First National Bank of Fergus county in Lewistown, the largest banking concern in central Montana, suspended business last Monday morning on action taken by the board of directors as a means of protecting all of the depositors against an impending run. Public opinion is largely to the effect that the bank was in good condition to meet ordinary conditions. Plans were immediately begun for re-opening the bank on a basis that will protect the depositors and the directors have assurance of ample new capital from local and outside sources. The bank had a paid up capital stock of $300,000 and a surplus of $100,000, its total resources being set out at around $5,000,000, and deposits around $3,000,000. Suspension of business by the First National Bank is directly traceable to rumors that grew out of the recent closing of several smaller banks in Fergus county. These rumors resulted last week in a feeling of uneasiness that manifested itself Saturday in a considerable number of withdrawals. The rumors continued to spread all day Sunday and by evening of that day it was foreseen that a very heavy run was inevitable. For the protection of the depositors as well as the bank itself, the directors decided to not open the bank Monday. A notice reading "Bank closed by order of directors" was posted on the door and greeted the crowds that gathered at nine o'clock Monday morning. The closing was taken very quietly. At the Empire State Bank everything was in readiness to meet an eventuality that might arise Monday morning. At one window a line of persons waited to get their money, but at another window there was another line of depositors. The net result at the end of the day's business at the Empire was that the deposits were within about $15,000 of the total withdrawals. When it was seen that the bank was able to meet all demands, withdrawals slackened very materially and it is likely that the run is over. In any event, the Empire is entirely safe. At Moore, eighteen miles from Lewistown, the State Bank of Moore and the First National Bank of Moore, both were closed Monday morning as a precautionary measure, and a bank at Roy, in the eastern part of the county, also was closed. Fergus county is traversed by the Milwaukee & St. Paul and Great Northern railroads.

7. February 13, 1924 The Bozeman Courier Bozeman, MT
Article from The Bozeman Courier, February 13, 1924

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Article Text

Lewistown Bank to Re-Open Fergus County Argus: The State Bank of Moore will open late this week or early next week, according to H. E. Strong, president of the institution, who spent Tuesday in Great Falls. The definite date of the re-opening has not been announced as the officials are waiting clearance from the state bank examiner. The bank will operate under the same charter as the old institution and will have the same officers. The State Bank of Moore closed December 10, 1923, following the closing of the Lewistown bank, and according to Mr. Strong, the suspension of business and closing was voluntary. The bank is capitalized at $25,000.